Awareness And Impact Of Goods And Service Tax (Gst) On Retailers In India

Abstract

GST is giant steps in tax reforms in India to inspire confidence from manufacturers and investors to drive the economy ahead, and one can expect for more reforms in every budget for further propel GDP growth. Although the government take steps to increase its revenue through taxes, it is obvious that it remains concentrated on making tax laws easy so that every individuals as well as corporations, bring into the tax net and making every Indian aware of his or her social duty to pay taxes that make the nation more taxable. In this sense, the research entitled “Awareness and impact of Goods and Service Tax (GST) on Retailers in India" aims to wants to probe into the fact about the awareness and their opinion about GST among retailers with special reference to Coimbatore District and its impact on them. The study concludes that the Implementation of GST helps to ease of starting new business and eliminates the distinction between goods and services. But it has no impact on increased business transaction, customers, price, sales, profit, and market. At the same time it increased the tax burden of the retailers and leads to closure of business.